|Here we go again in Washington. The fourth time it has been delayed.Implementation of New Rural Area Ineligible Area Maps Delayed!|
|On September, 19, 2014, “Continuing Appropriations Resolution, 2015,” (Public Law 113-164) was signed by the President. The continuing resolution extends a current general provision regarding housing program eligibility. This means that if a community is eligible today, they will remain eligible under the continuing resolution. Barring further Congressional action, RHS will delay implementation of the revised rural area maps based on the changes to the rural area definition as revised in the Agricultural Act of 2014 (Pub. L. 113-79). During the continuing resolution and as provided in the FY 2014 Appropriations Act (P.L. 113-76), RHS will not reclassify any area eligible for rural housing programs on September 30, 2013 as not eligible for such programs. The “Future Eligibility Maps” are posted on the Eligibility Website. Questions regarding this notification may be directed to the Single Family Housing Guaranteed Loan Division at 202.720.1452.
Baxter Scruggs is a mortgage banker offering USDA loans in California, NMLS #156370. He can be reached at firstname.lastname@example.org, or at 760-497-7705, or toll-free at 877-347-0004, ext. 226. Licensed by the California Department of Business Oversight under the California Residential Mortgage Lending Act. The blog postings on this site represent the positions, strategies or opinions of the author and do not necessarily represent the positions, strategies or opinions of Guild Mortgage Company or its affiliates. Terms and conditions apply, all loans subject to underwriter approval. Subject to change without notice. Guild Mortgage Company NMLS #3274
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